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16 Apr 2013
Forex: EUR/USD hits 7-week high
FXstreet.com (Córdoba) - The euro continued to advance versus the dollar and printed a fresh 7-week high as investors await the release of a string of US data, including the CPI report, housing starts and industrial production.
EUR/USD extended its recovery from the 1.3030 zone and rose beyond last week's peak to hit a marginal new one at 1.3141. At time of writing, EUR/USD is trading at the 1.3130 zone, where it records a 0.7% gain on the day.
As for technical levels, immediate resistance for the cross is seen at 1.3152 (100-day SMA) followed by 1.3161 (Feb 28 high), while on the other hand supports could be found at 1.3080 (100-hour SMA) and 1.3030 (intraday lows/200-hour SMA).
EUR/USD extended its recovery from the 1.3030 zone and rose beyond last week's peak to hit a marginal new one at 1.3141. At time of writing, EUR/USD is trading at the 1.3130 zone, where it records a 0.7% gain on the day.
As for technical levels, immediate resistance for the cross is seen at 1.3152 (100-day SMA) followed by 1.3161 (Feb 28 high), while on the other hand supports could be found at 1.3080 (100-hour SMA) and 1.3030 (intraday lows/200-hour SMA).